LGIM Real Assets has gained planning consent for a new Grade A office scheme in Windsor Town Centre.
The Windsor Urban Development Management Panel from the Royal Borough of Windsor and Maidenhead has granted planning permission for L&G’s proposal for a new-build office development on the site of the vacant Thames Court building on the corner of Sheet Street and Victoria Street.
Due to start on site in late 2017, it is expected to be delivered in early 2019. Once completed, the building will offer more than 43,000 sq ft of Grade A office space just a five minute walk from the town centre and Windsor Castle.
Mike Barrie, head of Fund Management at LGIM Real Assets, said: “The benefits of this new scheme will be considerable for Windsor and we are grateful for the foresight shown by local councillors in recognising the significant boost it will bring to the local economy. By replacing the current derelict building and site with a new much needed modern office facility for Windsor, the completion of this scheme is expected to create £19m of additional value for the local economy, supporting local shops and businesses.
“Since the late 1990s, Windsor has experienced a decline in office accommodation, leading some businesses to relocate to other towns in the Thames Valley, which has had an impact on the local economy. We believe that this scheme can help to reverse this trend and act as a catalyst for the wider revitalisation of Windsor town centre.”
Cllr Jack Rankin, Cabinet Member for Economic Development and local councillor for this part of Windsor, added: “I welcome this significant investment into our town centre. I have no doubt that this new development will not only provide much-needed Grade A office space in our town, but will also help promote Windsor as a good place to do business.”
The joint letting agents for this new scheme are Savills and New Ballerino.
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